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Assisted Living Facility Surety Bond

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Assisted Living Facility Surety Bond

What is an Assisted Living Facility Surety Bond?

An Assisted Living Facility Surety Bond seeks to safeguard residents of an assisted living facility.  The Assisted Living Facility Surety Bond ensures that the assisted living facility properly handles patient funds and third party payments on behalf of the resident if applicable.

What is the current market for an Assisted Living Facility Surety Bond?

Assisted Living Facility Surety Bonds are widely written by multiple surety bond markets.  The respective minimum and maximum bond amounts for the Assisted Living Facility Surety Bond are $5,000 or two times the amount held in trust.  However, these minimum and maximum amounts are determined by each state and may differ.  The amount of bond needed varies and is most often dependent on the amounts held in trust covered by the bond.  Terms of approval and premium are largely determined by the financial condition of the assisted living facility's corporate and/or personal net worth, experience, and the needed bond amount.

How do I apply for an Assisted Living Facility Surety Bond?

  1. Start by filling out our Online Assisted Living Facility Surety Bond Application by clicking here;
  2. Attach a copy of the most recent corporate financials; and
  3. Email or fax the information to submissions@dblsurety.com or 888.204.8716.

Please note that additional underwriting information may be needed depending on bond request, information submitted, and to obtain the lowest possible rate.

By Bart Leek.

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Ph: 386.316.2547 | Fax: 888.204.8716